CSX Co. (NASDAQ:CSX) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 19.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,345 shares of the transportation company’s stock after selling 3,053 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in CSX were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Thompson Investment Management Inc. purchased a new stake in CSX in the first quarter valued at $25,000. Kalos Management Inc. purchased a new stake in shares of CSX in the 1st quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX in the 4th quarter valued at $27,000. TimeScale Financial Inc. raised its holdings in shares of CSX by 1,391.8% in the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after buying an additional 849 shares during the period. Finally, Graham Capital Wealth Management LLC purchased a new stake in shares of CSX in the 1st quarter valued at $311,675,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.30 during trading hours on Monday, reaching $31.15. The stock had a trading volume of 3,719,519 shares, compared to its average volume of 13,100,108. The firm has a market cap of $62.50 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.68 and a beta of 1.22. The company has a current ratio of 1.42, a quick ratio of 1.21 and a debt-to-equity ratio of 1.46. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $34.38. The firm has a 50-day moving average of $31.65 and a 200-day moving average of $31.37.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Equities research analysts predict that CSX Co. will post 1.9 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.41%. CSX’s payout ratio is 22.22%.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. UBS Group upgraded CSX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $37.00 in a report on Thursday, June 1st. BMO Capital Markets restated an “outperform” rating and set a $37.00 price target on shares of CSX in a report on Friday, July 21st. Argus upped their price target on CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. JPMorgan Chase & Co. upped their price target on CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $25.00 price target on shares of CSX in a report on Friday, July 21st. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.43.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.